New York Governor Unveils Economic Recovery Package

The relief package will allocate $100 million in one-time payments to support the tourism workers who were hardest hit, $100 million in grants to incentivize tourism employers to rehire staff; $25 million to attract convention center and hotel event business, and $25 million for domestic and international I LOVE NEW YORK marketing.

The pandemic had a devastating impact on the New York tourism industry. In 2019, the industry supported one out of 10 jobs, with an economic impact of $100 billion. In 2020, the state suffered 55 percent loss in direct spending and nearly 50 percent loss in economic impact with international business down by 86 percent and domestic business down by 37 percent.

Added NYC & Company President and CEO Fred Dixon, “As we work to bring visitors and events back to our state and city, jobs, spending, tax collections and economic stimulus will follow.